2001 Mustang transmission problem.
 

When I shift into reverse, it pauses, takes about 3 seconds, then roughly shifts. It's only when I shift into reverse.
The dealership identified something was wrong with the transmission, but had to take it out to find the exact problem. However, if my warranty isn't willing to cover it, I would have to pay $960, which I don't have right now.
If I can find out exactly what's wrong, I'll be able to determine whether or not my warranty will cover it.
Hoping someone can help me. Thanks.

This car should have the good old 4r70 w or 4r75e trans, and this was a common problem on them. There are a few tricks to use to identify which clutch/band component is causing this problem. Try starting off in Man. 2, go about 5 mph, then downshift into 1 man, and see if you have the same delay when the trans 'jerks' that little bit going down into first. If there is that same delay, then the low/reverse band is applying slowly, or has some kind of problem. Normally, this is a problem with the sealing rings on the stator support that seal the reverse clutch drum and keep the pressure from leaking off. Also, if you can attach a pressure gauge, then see if the line pressure is normal in drive and increases in reverse. This could be the begginning of a trans. problem.

Oh I'm sorry, I forgot to mention it's automatic transmission.

I have a 1997 mustang cobra and have recently got a brand new clutch put in and a t45 tranny with 60k on it...I was wondering if it's normal when I start my car I can here the clutch spinning..like a swirling sound,no squeaks or anything and my car switches gears fine with no issues or grinds and I do have a b&m ripper shifter if that
Makes any diff. Even when I come to a stop at red light or something with no music on or anything and windows up I can hear it slighty then when I push clutch in it stops.

I WAS talking about the automatics; both are about the same trans, the 4r70 and 75E were basically identical. If you check how the trans engages into the gears, you get a good idea of what's wrong before you do anything to it, and that always heals in repair. It sounds like the box is going to have to come out to repair it, but, Here's hoping I'm wrong. Good Luck!

Thank you! That helps a lot.